Private equity fund manager application agent

What qualifications should a law firm and its handling lawyer meet when a private equity fund manager applies for representation and issues a "Legal Opinion"?

Require

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answer："The person in charge of the China Asset Management Association answers reporters' questions on issues related to the implementation of the "Announcement"" has been clarified，All companies legally established within the territory of China、Law firms and their Chinese practicing lawyers who can express professional opinions on Chinese legal matters，All can be hired in accordance with the "Guidelines for Legal Opinions on Registration of Private Equity Fund Managers"

Require

Issue a "Legal Opinion"。

The China Asset Management Association encourages private equity fund managers to choose relevant qualifications that comply with the "Measures for the Administration of Law Firms Engaging in Securities Legal Business"

Require

The law firm and its practicing lawyers issued a "Legal Opinion"。 According to the "Articles of Association of China Securities Investment Fund Industry Association"，Law firms that serve as fund service organizations can apply to become members of the China Asset Management Association，However, the China Asset Management Association has not made any mandatory requirements for law firms to join the membership.

Require

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ask：How do law firms and their handling lawyers conduct due diligence on the risk management and internal control systems of private equity fund managers?

Private equity fund managers apply for agency Answer：Law firms and their handling lawyers conduct due diligence on the risk management and internal control systems of the applicant institution.，The following should be checked and verified including but not limited to:： one、Whether the applicant institution has formulated a complete risk management and internal control system involving key aspects of the institution's operations as mentioned in Article 4 (8) of the "Guidelines for Legal Opinions on Registration of Private Equity Fund Managers"； two、Determine whether the relevant risk management and internal control systems comply with the provisions of the China Asset Management Association's "Internal Control Guidelines for Private Equity Fund Managers"； three、Evaluate whether the above systems have the realistic basis and conditions for effective implementation。

For example，Whether the establishment of relevant systems matches the existing organizational structure and staffing of the institution，Whether it meets the actual needs of the organization’s operations, etc.。

Taking into account the current development status of my country's private equity fund industry，To support the specialization of private equity fund managers、Differentiated development，Ensure the effective implementation of risk management and internal control systems of private equity fund managers，The China Asset Management Association encourages private equity fund managers to consider their own actual operating conditions，Professional outsourcing services by choosing a private equity fund outsourcing service agency registered with the China Asset Management Association，Achieve the goals of the institution’s risk management and internal control systems，Reduce operating costs，Improve core competitiveness。

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